Is the EURO Forming Bearish Look Alike Patterns?!?

By Chris Kimble / March 28, 2019 / kimblechartingsolutions.com / Article Link

The Euro has been on a roller coaster ride over the past several years. The direction has been mostly lower but the Euro is trying to firm up here. And the bulls desperately need to see some upside traction!

In today's chart, we highlight two look alike patterns: the Euro in the 1990's and the Euro in the 2000's.

As you can see, in the 1990's the Euro formed a pennant pattern, breaking down through support. It then retested the underside of the pattern (1) before breaking support (2) and cascading lower.

Is today's pattern hinting at something similar in the works? The Euro kissed the underside of the pennant again (3) and is now testing lower support again (4). If support breaks at (4), will selling pressure increase?

An important message could come from what happens at (4), especially for the metals sector!

This post was first written for See It Markets.com. To see original post CLICK HERE

-

Recent News

Strong revenue growth continues while costs ease

March 10, 2025 / www.canadianminingreport.com

Gold stocks back near highs

March 10, 2025 / www.canadianminingreport.com

Budgets shift to later phases and larger companies

March 03, 2025 / www.canadianminingreport.com

Gold stocks decline on metal and equities drop

March 03, 2025 / www.canadianminingreport.com

TSXV Mining's gold-driven outperformance

February 24, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok